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Vehicle sales decrease in January

Feb. 5, 2014 – Colder temperatures contributed to a decrease in total vehicle sales to 15.2 million annualized units in January, according to NAFCU Senior Economist Curt Long.

“Winter storms and cold temperatures have slowed vehicle sales for a second month in a row,” Long said in a NAFCU Macro Data Flash report. On a seasonally adjusted basis, December’s rate of vehicle sales was 15.4 million annualized units.

Car sales decreased from December’s level of 7.7 million annualized units to 7.3 million annualized units in January, while sales of light trucks increased from December’s level of 7.7 million annualized units to 8 million annualized units in January.

“Car sales were down 5.9 percent since last year, but light-truck sales increased and were able to offset some of the decline in car sales,” Long said. “It remains to be seen how much vehicle sales recover once the weather improves.”